Abstract
This research delves into the dynamics of economic growth and development in Thoothukudi District, Tamil Nadu, India, with a specific focus on the role of commercial banks in fostering financial inclusion and rural development. The study explores the challenges faced by rural communities in accessing formal banking services and examines the effectiveness of current financial inclusion initiatives. Utilizing a mixed-methods research design, including surveys and factor analysis, the research identifies three dimensions of financial inclusion: Utilization, Approach, and Quality of Services. The findings indicate positive perceptions regarding the convenience and accessibility of banking services, with room for improvement in documentation processes, communication, and the adoption of digital banking. Confirmatory Factor Analysis validates the dimensions, revealing good to very good fits. The study concludes with actionable recommendations for banks to enhance their role in promoting sustainable rural development, emphasizing technological innovation, improved communication, and a customer-centric approach.
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